Uranium Energy (NYSEAMERICAN:UEC) Shares Gap Down on Disappointing Earnings
by Mitch Edgeman · The Markets DailyUranium Energy Corp. (NYSEAMERICAN:UEC – Get Free Report) gapped down before the market opened on Tuesday following a weaker than expected earnings announcement. The stock had previously closed at $12.61, but opened at $12.04. Uranium Energy shares last traded at $11.3850, with a volume of 4,150,308 shares trading hands.
The basic materials company reported ($0.11) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.05) by ($0.06).
Analyst Upgrades and Downgrades
Several research analysts have issued reports on UEC shares. TD Securities dropped their target price on Uranium Energy from $22.00 to $21.00 and set a “buy” rating for the company in a research report on Wednesday, March 11th. Roth Mkm set a $17.00 price target on Uranium Energy in a research note on Wednesday, March 11th. Finally, HC Wainwright restated a “buy” rating and set a $26.75 price objective on shares of Uranium Energy in a report on Wednesday, May 20th. One investment analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and two have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $17.66.
Get Our Latest Stock Analysis on UEC
Institutional Investors Weigh In On Uranium Energy
Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Ameritas Advisory Services LLC bought a new position in Uranium Energy in the 3rd quarter worth about $33,000. Strategic Advocates LLC bought a new stake in shares of Uranium Energy during the third quarter valued at approximately $40,000. Sound Income Strategies LLC raised its stake in shares of Uranium Energy by 159.1% during the fourth quarter. Sound Income Strategies LLC now owns 3,094 shares of the basic materials company’s stock valued at $36,000 after acquiring an additional 1,900 shares in the last quarter. PenderFund Capital Management Ltd. purchased a new stake in shares of Uranium Energy in the fourth quarter valued at approximately $39,000. Finally, Caitong International Asset Management Co. Ltd purchased a new stake in shares of Uranium Energy in the fourth quarter valued at approximately $39,000. Institutional investors own 62.28% of the company’s stock.
Uranium Energy Stock Down 10.2%
The company has a market cap of $5.55 billion, a P/E ratio of -93.99 and a beta of 1.12. The firm has a 50 day moving average of $14.05 and a 200-day moving average of $14.33.
About Uranium Energy
Uranium Energy Corp. is a uranium mining and exploration company focused on the development and production of uranium through in-situ recovery (ISR) methods. The company’s core activities include operating ISR projects, advancing exploration properties, and engaging in joint ventures to secure uranium supply for nuclear power generation. Uranium Energy’s approach emphasizes environmentally conscious extraction techniques that minimize land disturbance and water usage compared with conventional mining.
The company’s primary producing asset is the Hobson ISR facility in South Texas, which commenced production to supply uranium concentrate to nuclear utilities.